Evans Bancorp (NYSEAMERICAN:EVBN) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Evans Bancorp (NYSEAMERICAN:EVBN) in a research note issued on Wednesday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Evans Bancorp from $42.32 to $45.50 and gave the company a “market perform” rating in a report on Friday, November 1st.

Evans Bancorp Stock Performance

EVBN opened at $42.22 on Wednesday. The firm has a market cap of $233.90 million, a P/E ratio of 12.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.99 and a quick ratio of 0.99. Evans Bancorp has a 52-week low of $24.07 and a 52-week high of $46.21.

Evans Bancorp (NYSEAMERICAN:EVBN) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. The company had revenue of $31.69 million during the quarter. Evans Bancorp had a net margin of 13.80% and a return on equity of 10.27%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EVBN. JPMorgan Chase & Co. grew its position in shares of Evans Bancorp by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,503 shares of the bank’s stock valued at $370,000 after acquiring an additional 1,511 shares during the period. Geode Capital Management LLC lifted its holdings in Evans Bancorp by 6.9% during the third quarter. Geode Capital Management LLC now owns 55,786 shares of the bank’s stock valued at $2,175,000 after purchasing an additional 3,583 shares in the last quarter. Barclays PLC boosted its holdings in Evans Bancorp by 47.7% in the 3rd quarter. Barclays PLC now owns 16,163 shares of the bank’s stock worth $630,000 after buying an additional 5,218 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Evans Bancorp during the 3rd quarter worth approximately $218,000. Finally, Prime Capital Investment Advisors LLC purchased a new position in shares of Evans Bancorp in the third quarter valued at approximately $251,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

About Evans Bancorp

Evans Bancorp, Inc primarily operates as financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in the United States. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.